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        <ExplanationTxt>EFF COMMUNITY VENTURES, INC. LEVERAGES DONATIONS AND OTHER PHILANTHROPIC FUNDING RECEIVED WITH LOW-COST DEBT IT OBTAINS TO PROVIDE FUNDING TO CHARTER SCHOOLS FOR PURCHASES OR UPGRADES TO FACILITIES AT RATES AND TERMS MORE FAVORABLE THAN AVAILABLE IN THE CORPORATE LENDING AND BANKING MARKETS. THE DESIGN, IMPLEMENTATION, STRUCTURING, AND MAINTENANCE OF THIS NEW SOURCE OF CAPITAL FOR CHARTER SCHOOL FACILITIES LEADS TO IMPROVED PUBLIC EDUCATION FOR CHILDREN.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD RETAINS THE SERVICES OF AN INDEPENDENT CPA FIRM TO PREPARE THE ORGANIZATION'S FORM 990. MANAGEMENT REVIEWS THE COMPLETED FORM 990 AND PROVIDES A FULL COPY TO ALL VOTING MEMBERS OF THE GOVERNING BODY PRIOR TO FILING.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES ARE ANNUALLY REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT AS A PRECURSOR TO THEIR SERVICE TO THE ORGANIZATION. POTENTIAL CONFLICTS ARE LOGGED WITH AND MONITORED BY THE BOARD OF DIRECTORS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>ANNUALLY, THE BOARD CONDUCTS A PERFORMANCE EVALUATION OF THE CEO, WHICH INCLUDES REVIEWING COMPENSATION. THE BOARD ANNUALLY ENSURES THREE ELEMENTS ARE INCLUDED IN ITS REVIEW OF EXECUTIVE COMPENSATION: 1) ALL COMPENSATIONS CHANGES ARE APPROVED IN ADVANCE BY THE BOARD; 2) THERE IS CONCURRENT DOCUMENTATION FOR THE DECISION REFLECTED IN BOARD MINUTES; AND, 3) THERE IS A RELIANCE ON APPROPRIATE COMPARABILITY DATA. ANY CHANGES TO EXECUTIVE COMPENSATION ARE A RESULT OF THESE PROCEDURES.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE THROUGH APPLICABLE GOVERNMENTAL AGENCIES; THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON WRITTEN REQUEST TO THE ORGANIZATION.</ExplanationTxt>
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          <BusinessNameLine1Txt>EQUITABLE FACILITIES FUND INC</BusinessNameLine1Txt>
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